COUNCIL FOR ECONOMIC DEVELOPMENT OF HANCOCK COUNTY

EIN: 351654127

GREENFIELD, IN

Total Revenue
$476,146
Total Expenses
$420,834
Total Assets
$254,839
Net Assets
$250,138
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
IN
Principal Officer
RANDALL SORRELL
Phone
3174777241
Tax Period
2023-01-01 to 2023-12-31

COUNCIL FOR ECONOMIC DEVELOPMENT OF HANCOCK COUNTY, founded in 1985, is a small nonprofit that reported $476K in total revenue in fiscal year 2023. Revenue surged 69% from the prior year, signaling strong growth momentum. Expenses of $421K left a modest 12% surplus.

Mission

TO PROMOTE ECONOMIC DEVELOPMENT IN HANCOCK COUNTY BY PROVIDING SITE ASSISTANCE, COST OF DOING BUSINESS ANALYSIS, AND ECONOMIC IMPACT MODELING TO SITE LOCATION CONSULTANTS, THE CORPORATE REAL ESTATE COMMUNITY, AND INDIVIDUAL BUSINESSES. WE SERVE AS A LIAISON BETWEEN LOCAL GOVERNMENT AND THE BUSINESS COMMUNITY. OUR MISSION IS TO ENHANCE THE QUALITY OF LIFE IN HANCOCK COUNTY THROUGH THE ATTRACTION AND RETENTION OF QUALITY JOBS AND PROMOTION OF A DIVERSIFIED TAX BASE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $242,744
Program Service Revenue $231,939
Investment Income $1,463
Other Revenue $0
TOTAL REVENUE $476,146

Expense Breakdown

Grants Paid $0
Salaries & Benefits $270,053
Fundraising Expenses $0
Other Expenses $150,781
TOTAL EXPENSES $420,834

Year-over-Year Comparison

2023 2022 Change
Revenue $476,146 $282,440 +0.7%
Expenses $420,834 $334,978 +0.3%
Net Income $55,312 $-52,538 -2.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
43
Independent Members
43
Employees
6
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
1
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A PRESIDENT N/A
Officer Director
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
BILL SPALDING TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A TRUSTEE N/A
$0 $0 $0
N/A VICE PRESIDE N/A
Officer
$0 $0 $0
N/A SECRETARY N/A
Officer
$0 $0 $0
N/A TREASURER N/A
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $476,146 $420,834 $254,839 $55,312
2022 $282,440 $334,978 $197,838 $-52,538
2021 $804,306 $788,911 $250,377 $15,395
2020 $276,022 $268,314 $734,848 $7,708
2019 $258,190 $235,746 $225,976 $22,444
2018 $247,304 $277,415 $204,644 $-30,111
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